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TMI Blog2010 (7) TMI 151X X X X Extracts X X X X X X X X Extracts X X X X ..... the assessment. - as the revenue has not been able to point out as to which expenses of foreign travel as claimed by the assessee is not for the business purpose and as the assessee has produced the evidences in relation to the foreign travel before the Assessing Authority and the same has also been accepted by the Ld. CIT(A), the addition on this account more so on ad-hoc basis, is unjustified and the same is deleted - 941/2010 - - - Dated:- 27-7-2010 - Represented:- Through: Mr. Sanjeev Sabharwal, Advocate Through: Ms. Bhakti Pasrija, Advocate CORAM: HON'BLE THE CHIEF JUSTICE HON'BLE MR. JUSTICE MANMOHAN JUDGMENT MANMOHAN, J CM 12666/2010 This is an application for condonation of delay of 100 days ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... has not been claimed as expenditure either. It is also noticed that similar disallowance has not been made out of the interest for the earlier years, when the money had been advanced to Shri V.K. Chabra. In these circumstances, respectfully following the decision of Hon'ble High Court of Karnataka in the case of Sridev Enterprises, we are of the view that no disallowance of estimated interest can be made during the relevant Assessment Year also. In these circumstances, the Assessing Authority is directed to delete the said disallowance. In the circumstances, the ground No. 4 of the assessee's appeal stands allowed." 4. We are of the opinion that as in past assessment years, the interest expenditure had been allowed, it was not open to th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ring. The disallowance has been made on presumption and the disallowance is an ad-hoc disallowance. The details of the expenditure have been found to have been produced before the Assessing Authority. Ld. CIT(A) not found any defect in the claim of expenses, could not now make a change in the stand of the Assessing Authority to say that apparently the travel to Paris, London, Amsterdam and Hong Kong was not for business purposes. Further, as the revenue has not been able to point out as to which expenses of foreign travel as claimed by the assessee is not for the business purpose and as the assessee has produced the evidences in relation to the foreign travel before the Assessing Authority and the same has also been accepted by the Ld. CIT ..... X X X X Extracts X X X X X X X X Extracts X X X X
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